With the US economy slipping into recession, many people are rightly worried about losing their jobs and even their houses. It begs the question: are there any recession proof business opportunities out there? The answer, as you'll see, is yes, there definitely are some areas that are not affected by the shrinking economy.
Communications
One impressive sector is communications. Specifically, wireless communications. The growth of the cell phone industry continues at a pace, unaffected by the recession. Not only are more people using cell phones (in the US and worldwide), they're upgrading and changing phones more often.
These factors bode well for anyone getting involved in cell phone business opportunities. In particular, online cell phone businesses stand to see real growth, even if the recession deepens in the short term. This is because more people are getting used to buying products online, and also because prices are lower online due to less overhead and lower labor costs.
Health Care
Health care business opportunities also stand up well in the face of recession. This is due to several factors. Medical technology and drug creation are expanding rapidly in recent years. This provides more products and services that need to be administered on a regular basis. Even during recessions, people still get sick and need treatments.
The other reason health care is a great recession proof business field has to do with demographics. The US population is aging. The fastest growing segment is centenarians (those 100 years old and older). Add the fact that the Baby Boomer generation will soon be retiring, and you have the recipe for a great business opportunity during any kind of economy.
Debt Reduction / Collection
Then there's the entire debt industry. Sadly, this field is not only recession proof - it tends to prosper during economic downturns as people borrow more and more to stay afloat. Business opportunities include debt relief counseling programs and information products detailing ways to reduce debt.
Now may be a good time to look into this area, as the US economy appears to be on the brink of dropping into a deep recession. Unemployment is rising, and mortgage and lending institutions are collapsing. The entire debt field looks poised to expand.
Bad economic times don't necessarily mean you should wait to get started. There are plenty of recession proof business opportunities out there. It just takes a bit more due diligence and research to find the right one.